The document provides a technical analysis of various commodities including gold, silver, copper, and crude oil. For gold and silver, it notes that prices are supported by trend lines and momentum indicators, suggesting the possibility of prices bouncing back or moving higher in coming sessions. For copper, it indicates prices have broken down from channel and triangle patterns and momentum has shown a negative crossover, suggesting further weakness. For crude oil, it mentions prices are supported by trend lines and momentum indicators, suggesting the potential for prices to move higher. Pivot levels are also provided for different commodities.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
On daily chart, MCX Gold prices has been taking support of its
trend line at 26820 levels. Furthermore, COMEX Gold prices
are trading above its horizontal line support at $1120 levels on
daily time frame. Moreover, Momentum Indicator RSI is
trading in oversold zone at 25 levels daily time frame which
indicates the possibilities of bounce back in the prices. For
now we expect prices should move higher towards 27520
levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Feb Daily Chart CMP: 27194
MCX Gold (Feb) Trend: Bullish
Price potential: 27520 Reversal: 27000
MCX Silver Mar Daily Chart CMP: 39694
Technical View:
On daily chart, MCX Silver prices have been trading in falling
wedge pattern and taking support of its lower band of wedge
pattern at 39180 levels. Furthermore, COMEX Silver prices
have been taking support of its horizontal trend line at $16
levels on hourly chart. In addition, momentum indicator RSI
has been trading at 39 levels on daily chart, which indicates
bounce back in the prices. For now we expect prices to move
higher towards 40700 levels in few trading sessions.
MCX Silver (Mar) Trend: Bullish
Price potential: 40700 Reversal: 39100
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 27700 27532 27238 27826 28150 28350 28450
Silver 39280 38867 38132 39602 40015 40337 41072
19th Dec’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
On hourly chart, MCX Copper price has shown breakdown
of its channel pattern at 392 levels. Moreover, COMEX
Copper price has witnessed breakdown of its ascending
triangle pattern $2.62 levels on daily chart. In addition MCX
Copper prices are trading below its 21 DEMA. Furthermore,
momentum indicator MACD has shown negative crossover
on daily time frame, which suggest further weakness in the
momentum can be seen. For now we expect prices to
move lower towards 375 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb Hourly Chart CMP: 385.80
MCX Copper (Feb) Trend: Bearish
Price potential: 375 Reversal: 392
MCX Crude Oil Dec. Daily Chart CMP: 3521
Technical View:
MCX Crude Oil price have been taking support of its rising
trend lien at3422 levels on hourly chart. MCX Crude Oil price
has been taking support of its horizontal trend line at 3356
levels on hourly chart. MCX Crude Oil is trading above its 50
DEMA on daily chart. Moreover, Momentum indicator RSI is
trading above 60 levels on daily chart which suggest the
positive movement in the prices. For now we expect prices
to move higher towards 3600 levels in coming trading
sessions.
MCX Crude Oil (Dec) Trend: Bullish
Price potential: 3600 Reversal: 3480
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 382.1 379.0 370.9 387.1 390.2 395.2 403.3
Crude 3449 3387 3286 3488 3550 3589 3690
Base Metal
Energy
Aaj Ka Trend
19th Dec’16

3. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Other Base Metals & Energy
S1 S2 S3 Pivot R1 R2 R3 Trend
Copper 382.1 379.0 370.9 387.1 390.2 395.2 403.3
Aluminum 116.3 115.5 113.5 117.5 118.3 119.5 121.5
Lead 149.7 147.4 141.2 153.7 156.0 159.9 166.2
Nickel 750.9 743.6 725.2 762.0 769.3 780.4 798.8
Zinc 181.7 178.9 171.9 185.8 188.6 192.8 199.7
Natural Gas 226.9 224.0 218.0 230.0 232.9 236.0 242.0
Fundamental News:
 Inflationary policies, by the governments of China and the U.S., will encourage speculation, resulting in
increased cash flow into electronic traded funds (ETFs) related to gold, according to analysts.
 President-elect Donald Trump’s plans to cut taxes is expected to add trillions of dollars to the country's debt
burden.
 The U.S. federal debt is still expected to increase from 77% of U.S. GDP at year-end 2016 to 86%, or about $23
trillion, over the next decade, driven by spending on health care for seniors and children and the indigent and
retirement.
 This year’s decline of the Chinese and Indian jewelry markets was caused by complex confluence of events that
will not repeat themselves in 2017, including the unexpected loss of Chinese consumer confidence, gold import
curbs designed to restrict capital flight, a tax hike on Indian gold imports earlier this year, and a cash crisis in
India.
 Oil traders emboldened the fact that that some foreign oil producers are adhering to their promise to pull back
on output.
 President Obama mentioned Russian oil production briefly during his final White House press conference this
afternoon, saying that the country had "no innovation" and nothing that anyone wanted to buy except "oil and
some weapons." But it may have been too late in the trading day to impact prices and opinions on Friday.
 Prices had trended lower earlier in the day, amid news that Libya has restarted operations at two key oil fields.
Aaj Ka Trend
19th Dec’16

4. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
International Market
Commodity Closing Price
Gold 1136
Silver 16.15
Crude Oil 52.03
Brent Crude Oil 55.32
Natural Gas 3.38
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.85
Dollar Index 102.81
EUR / USD 1.04
CRB Index* 191.42
Closing as on 16.12.16 *Closing as on 16.12.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5628
Aluminum 1723
Zinc 2685
Lead 2150
Nickel 11109
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 46350
Aluminum 13150
Zinc 22125
Lead 20220
Closing as on 16.12.16 Closing as on 16.12.16
LME INVENTORY DATA
Aaj Ka Trend
12-Dec-16 13-Dec-16 14-Dec-16 15-Dec-16 16-Dec-16
Aluminium -5750 -22151 -22201 -2751 -28074
Copper -7800 126624 19949 17174 11776
Lead 0 0 -51 -101 -49
Nickel -78 -73 1141 1669 -121
Zinc -675 -1249 -902 41 -1826
19th Dec’16

5. Equities I Commodities I Currencies I Mutual Funds
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error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology,
price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis
and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research
undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information
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/Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
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Contact Us
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
www.choicebroking.incustomercare@choiceindia.com
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
19th Dec’16
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd,
ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2016.12.17 12:54:07 +05'30'